And in other Credit Card Scam news today...

[Zenlitened]

Call it Due Date Creep.

Has anyone noticed their 'Payment Due Date' creeping steadily forward?

I pay my balance in full each month (I use the card instead of cash, to gain frequent flier miles.)

When I first signed up, a few years ago, payments were due on the first of the following month. I'd get my statement on, say, May 12 and the bill was due June 1.

Well, then it crept to a due date of May 28 or so -- due a few days earlier than before, in other words.

Then it was May 25.

Now it's May 23. The bill is due in about a week and a half from the time I receive my monthly statement. Nearly a week and a half earlier than it used to be due.

I don't think that's an accident. We're all creatures of habit, and I wonder how many people are getting socked with late penalties plus a full month's worth of finance charges because they haven't been paying attention to the Due Date Creep?

Man, these companies are world-class con artists. They're VERY good at what they do. You've got to watch them like a hawk. And you've got to minimize your interaction with them. I use ONE card, and that's it. I'm just not organized enough to keep track of multiple cards with multiple statements with multiple due dates with... et cetera et cetera et cetera. But they still manage to rattle me every know and then.

:grr:


(P.S. Related Credit Card Scam News at:
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=104x3656397 )

[unblock]

1. i remember when 25 days was standard

and i also remember when they accepted checks right up to the due date, none of this "10 days to clear" crap excuse to charge you a late fee despite paying on time.

on the flip side, some of my credit cards provide an online ability to pull from my checking account on the due date, so i don't have to worry about timing.

[Mairead]

2. I'm an owner-member of a socialist bank (aka credit union)

And have it set up such that they automatically pay off my balance from my checking acct each month before any charges would come due.

That's the lovely part of socialist banking: we own it, so there's no incentive to look for ways to screw the customers 'cos the customers is us.

Go join a socialist bank and stop worrying about due dates.

[Warpy]

3. You don't need frequent flier miles that bad.

Cut that puppy up and send it in. This is a scam and a trap. They know how long snail mail takes, which is why that "grace period" keeps getting shorter. They make LOADS of money on those junk fees like those late charges, which is why they're trying their best to get you to incur them through no fault of your own.

Life goes on very nicely without credit cards. Debit cards work fine for online purchases and you don't need to agonize over a bill and how fast the mail is going to be.

[Zenlitened]

5. Um, yeah, I do. I'm flying to visit my sister & her family in the Midwest

... this month, and it's costing me a grand total of $10. Yes, "ten." For a flight from Boston.

That's a big chunk of change I'll save, all for purchasing groceries and other necessities with a credit card.

As for using my debit card online... thanks, but no thanks. Account info linked to my life savings is NOT something I care to type into a website order form, no matter how well I know the merchant.

[koopie57]

4. on wednesday this week

I, a normally very shy person who avoided confrontation no matter how much it cost me, was fed up with these bastard credit card companies. I told my husband to give me the phone cuz I was sick and tired of this and got into it with the bitch at the other end of the line, took me 45 minutes but I got my way. I was stunned at how hard she fought for a few dollars and I told her I was going to write the better business bureau. She flippantly said go ahead and I told her that she could be as flip as she wanted but she was the one doing the dirty work for a dirty company. Normally I would be shaking and my voice would tremble, but she got a full taste of all I've learned on DU. Even I was impressed with myself. Thank you to all who taught me well.

[Bronco69]

6. Here's my credit card company's scam...

I pay my bill online every month. I can pay it online until one day before the due date. If I log on and want to pay it ON the due date I have to pay a $14.95 expedite fee. In fact, when I put in the date I want it to come out of my account, it specifically says, "cannot be today's date."

For example: If my due date is May 17, I can schedule the payment to come out of my account on May 17, but it has to be done BEFORE May 17. If I wait until May 17 to pay it the $14.95 fee kicks in.

[Imajika]

10. Sounds like Providian

I still have one of those Providian cards lying around, and it sounds like something I've seen noted when I've paid online.

This is the card I use for online purchases only and would never actually leave a balance on it because of the insane interest rates.

The main reason I keep it is they update your credit score each month and allow you to see it for free online.

Imajika

[RC]

7. That's to trap people that get paid on the last working day or

the last Friday of the month.
It's like being told the rent being due on the last day of the month. It used to be you had 5 to 7 days grace after that. Not now. They still tell you the rent is due on the last day of the month, but now that is the drop dead date. It is really due on the 25th and the grace runs out at COB on the last day.

People are nothing more than golden geese that the Greedy Powers want to squeeze harder so as to get more eggs from.

[Horse with no Name]

8. The day I tore up my Capital One card

I had let the payment date creep slide and never noticed it had changed. It had been due on one day and I looked at one day to send it, and found the due date was that day.

So, I didn't want their late charges--they are hefty--so I wanted to make sure they got their money. I went and wired the money to my account and then came back and called in the confirmation number. They accepted it.

When I got my next bill, I had been hit with a late charge AND an over limit charge--an amount of almost $40.
I called and told them that I had in front of me a receipt that shows it was wired on my due date. They told me that that only counted if the wire transfer was made before noon. Anything after noon was subject to late fees.

They are crooks, plain and simple.

[Gormy Cuss]

9. They are emboldened by the pro-business White House

As long as they have so many customers drowning in debt, they can get away with it.
To all of you who don't have bad credit and who don't have major credit card debt, don't give them an inch. Be prepared to close the account and walk away. They are scared to death to lose those of us who aren't credit risks. No longer are they referring to us as 'deadbeats.' We give them the reliable cash flow and they know it. Try it. I have.

Consumers need to say no to bad or intrusive business practices at every opportunity. Business is business. If there is enough of a revolt, the practices will change. It happened with annual fees. Remember those?

[Zenlitened]

11. "Be prepared to close the account and walk away."

That's really the best advice there is. The key is to avoid getting to a point where you NEED their card, or can't just walk away. I climbed out of credit card debt several years ago and baby I'm NEVER going back! :)

[seabeyond]

12. two months ago it was late coming to me, after 4 years

of it arriving at a certain time. i only had a couple weeks to pay, generally i have a good three weeks. went from 16th payment to 13th, will be sure to check this month. last month i lost my bill and just sent in an amount i knew would be above what owed. now curious if it was late cause of a changed date.

yes i wondered about it. this card has been so consistant for so long